Technical sales caused heavy losses in Chicago last Friday. It has been raining in parts of the US Plains and more rain is expected in the coming days. Institutional investors sold 9,000 lots of CBoT SRW wheat on Friday. The eCBoT is trading this morning with further haircuts.
At the Euronext in Paris, the wheat futures were not very impressed by the negative overseas guidance and closed a little firmer. Only the expiring Maitermin 2018 recorded losses. The market was supported by the weak euro exchange rate. The result of the call for tenders by Saudi Arabia for the purchase of 540,000 tons of wheat is eagerly awaited. Market participants are in favor of Germany. Poland, France and the Baltic states are also considered to have good opportunities. At the cash market in Hamburg, the premiums for wheat with 12.5% protein for delivery in May / June remained stable at 10 euros over Paris May 18. Quotes for wheat with 12% protein for May rose by 2 euros to 4 euros over Paris May 18. The status of winter wheat stocks in France has improved slightly. FranceAgriMer was rated "good to excellent" for 78% of its holdings (previous week: 77%).
